Section 8 of UTGST Act 2017, Power to grant exemption from GST
Click here to know GST rate of your goods or service
The below post explains about Power to grant exemption from tax under section 8 of UTGST Act,2017.
Section 8 of UTGST Act, 2017 explains Power to grant exemption from tax as below: (The amendments if any will also be updated here soon).
The extract of Section 8 of UTGST Act,2017 quoted below:
8. (1) Where the Central Government is satisfied that it is necessary in the public
interest so to do, it may, on the recommendations of the Council, by notification, exempt
generally either absolutely or subject to such conditions as may be specified therein, goods
or services or both of any specified description from the whole or any part of the tax leviable
thereon with effect from such date as may be specified in such notification.
(2) Where the Central Government is satisfied that it is necessary in the public interest
so to do, it may, on the recommendations of the Council, by special order in each case,
under circumstances of an exceptional nature to be stated in such order, exempt from payment
of tax any goods or services or both on which tax is leviable.
(3) The Central Government may, if it considers necessary or expedient so to do for
the purpose of clarifying the scope or applicability of any notification issued under
sub-section (1) or order issued under sub-section (2), insert an explanation in such notification
or order, as the case may be, by notification at any time within one year of issue of the
notification under sub-section (1) or order under sub-section (2), and every such explanation
shall have effect as if it had always been the part of the first such notification or order, as
the case may be.
(4) Any notification issued by the Central Government under sub-section (1) of
section 11 or order issued under sub-section (2) of the said section of the Central Goods
and Services Tax Act shall be deemed to be a notification or, as the case may be, an order
issued under this Act.
Explanation.—For the purposes of this section, where an exemption in respect of
any goods or services or both from the whole or part of the tax leviable thereon has been
granted absolutely, the registered person supplying such goods or services or both shall not
collect the tax, in excess of the effective rate, on such supply of goods or services or both.
The above information clarifies about Power to grant exemption from tax under section 8 of UTGST Act,2017.
If you have any comments about Section 8 of UTGST Act, 2017 explaining Power to grant exemption from tax, share below your thoughts:
Click here to know GST rate of your goods or service
GST Exemption list of goods and services
Find HSN number or Service tariff code for GST
Indian GST Laws
How to export your goods?
How to get Export Order?
GST Registration Guidelines
Learn Imports and Exports business free of cost
Find HSN code of your product.
Removal of difficulties, IGST Act,2017
Special audit, CGST Act, 2017
Power to arrest, CGST Act
CGST Act, Power to summon persons to give evidence and produce documents
CGST Act, 2017 Access to business premises
CGST Act, Determination of tax not paid
General provisions relating to determination of tax, CGST Act, 2017
Tax collected but not paid to Government, CGST Act
GST rate for wool, animal hair, yarn of horsehair, woven fabric
GST Tariff rate for Cotton and Cotton articles
Rate of GST for woven fabrics of paper, Paper Yarn, other vegetable textile fibers etc.
Percentage of GST imposed for manmade textile materials, filaments, strips
GST for manmade staple fibres in India
GST rate for ropes, twine, wadding, special yarns, felt etc.
GST for Carpet industries and sale of textile floor coverings
Error in transaction between GST, authorized banks and RBI under GST tax collection
Communication between GSTN and RBI on GST tax reciepts
Discrepancy in GST tax payments by CPIN,GSTIN,CIN,NEFT/RTGS UTR and Challan amount
How to reduce errors in GST payments by IT system of authorized banks
The legs of communication of data under GST payments
Reconciliation of GST tax collection by Accounting Authorities
Reconciliation by GSTN on GST Tax collection
Process of BRN,CIN,CPIN by RBI and Government on GST fund transfer
Is Customs House Agents (CHA ) required to be appointed mandatory?
Is DP terms of payment safe in export business?
Is Letter of Credit LC safe for an Importer?
Is ON BOARD CERTIFICATE required for LC negotiation
What is VACIS exam in US import customs clearance
When can an exporter release bill of lading from shipping company?
When does exporter get EP copy of shipping bill after customs clearance
How does CFR term of delivery work in Export Import business